Amendment of Section 80C

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..... d, the following sub-clause shall be inserted, namely :- (v) as a contribution for participation in the Unit-linked Insurance Plan, 1971 (hereafter in this section referred to as the Unit-linked Insurance Plan) made under section 19(1)(cc) of the Unit Trust of India Act, 1963 (52 of 1963); ; (ii) in sub-clause (i) of clause (g), in item (3), the word or shall be inserted at the end and after item .....

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..... deduction shall be allowed to the assessee under this section in respect of the contribution, if any, paid in the previous year in which the participation is so terminated; and (b) the deductions allowed in respect of the contributions paid in the previous years preceding the previous year referred to in clause (a) shall be deemed to be the income of the assessee of that previous year and shall b .....

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